According to the Post's report, the Mariners will send Lee and relief pitcher Mark Lowe to Texas for first baseman Justin Smoak and three minor-leaguers.

The Post reported that the Yankees and Mariners were close to a deal where the Yankees would send minor-leaguers Jesus Montero, David Adams and Zach McAllister to Seattle for Lee. But that fell apart.

From the Post:

But Adams has been out with a high ankle sprain and the Mariners were a bit concerned about obtaining him. They asked the Yankees to consider putting another player in the deal. The Yankees said they would, but Seattle came back and asked for more still and, at that point, the Yankees said no and the Mariners informed them they were looking elsewhere.